KUALA LUMPUR (Jan 16): RHB Investmet Bank Research has maintained its “neutral” rating on the technology sector and said it believe the semiconductor market will remain in the doldrums in 1H2023, as inventory correction takes place amid demand uncertainty. In a note on Monday (Jan 16), the research house said non-semiconductor counters should see relatively brighter prospects given the domestic-focused business and full reopening of borders.
The outlook for the local tech sector is turning brighter following the materialisation of the de-rating led by US interest rate hikes, appealing valuations after rounds of selldowns as a consequence of the de-rating, as well as the tapering off of Federal Reserve hawkishness and China’s “zero-Covid” stringency, says UOB Kay Hian Research.
KUALA LUMPUR: RHB Investment Bank Research has downgraded the technology sector to “neutral” from overweight, after factoring in the semiconductor sector’s weakening demand, which is likely to persist, notwithstanding the gains from the strengthening US dollar, and growth in certain sub-segments.
KUALA LUMPUR, Aug 26 Bursa Malaysia opened 0.15 per cent higher today, buoyed by improving sentiments which could see the benchmark index breaching the 1,500-level again, a.
Despite the lacklustre stock market performance in the first half of the year, qualified companies have not been too discouraged from listing given that initial public offerings (IPOs) remain fairly numerous. But more encouraging has been the performance of some of the newcomers as a number of them have vastly outperformed the benchmark index.